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				<p class="content-title">HEALTH CARE SPENDING</p>
				<p class="paragraph">Generally, nations spend more money on health care because they have more money to spend, not because they have greater medical needs. 
					Countries with higher income will spend more money on health care than countries with lower income regardless of their population size and health care needs (Figure 1).</p>
				<img class="picture" src="../../img/health-care-industry-financing-and-economics/FIG1.png" width="500px" height="300px"></img>
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					Figure 1 – Percentage distribution of population and total health expenditures by WHO regions, 2012
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					Many countries have experienced major expansions in the size of their health sectors, as measured by the share of Gross Domestic Product (GDP) spent on health care. 
					This is because over the past ten years, health spending growth has exceeded economic growth resulting in an increased share of the economy devoted to health in most 
					countries. In the United States, the share of GDP allocated to health care has skyrocketed from 7.1% in 1970 to 17.7% in 2010 (Figure 2). 
				</p>
				<img class="picture" src="../../img/health-care-industry-financing-and-economics/FIG2.png" width="500px" height="300px"></img>
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					Figure 2 – Total Expenditures on Health Care as Percent of GDP, 1970 - 2010
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					In 2010, majority of the U.S. national health expenditure was used for personal health care such as hospital care and physician/clinical services (Figure 3). 
					Spending on prescription drugs has seen a recent slowdown but still remains as the third highest with 10%. From 2009 to 2010, prescription drug costs increased
					by just 1.2% while hospital and physician costs increased by 4.9%.
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				<img class="picture" src="../../img/health-care-industry-financing-and-economics/FIG3.png" width="500px" height="300px"></img>
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					Figure 3 – Breakdown of U.S. health care expenditure, 2010.
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					Overall, the U.S. is the world’s largest health care market accounting for 40% of all health care expenditures even though it only has 5% of the world’s population.
					While the average spending on health care among most developed OECD (Organisation for Economic Co-operation and Development) countries was $3,268 per person, 
					the U.S. spent an average of $8,233 per capita on health care (Figure 4).
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				<img class="picture" src="../../img/health-care-industry-financing-and-economics/FIG4.png" width="500px" height="300px"></img>
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					Figure 4 – Total health expenditures per capita for OECD Countries, Public and Private, 2010 (or nearest year)
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					The percentage of GDP allocated to health across OECD countries is—on average—twice that of the countries in the APAC region while the average OECD health spending 
					per capita was around five times that of the APAC region (Figure 5). However, between 2000 and 2010, Asia’s growth rate in per capita health spending in real terms 
					was 4.9%, which is higher than the 4.1% observed across OECD countries. 
				<img class="picture" src="../../img/health-care-industry-financing-and-economics/FIG5.png" width="500px" height="300px"></img>
				<p class="source">
					Figure 5 – Total health expenditure per capita for APAC countries, Public and Private, 2010
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